The ‘Global Superfoods Market Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global superfoods industry report, assessing the market on the basis of its segments like types, distribution channels, applications, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 6.2%
The high nutritional value of superfoods, which enhance the protection of consumers against various chronic diseases, is driving the market growth. Increasing inclination towards health and fitness owing to the growing prevalence of lifestyle-related issues such as musculoskeletal and cardiovascular diseases, is further bolstering the demand for superfoods.
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In addition to this, superfoods such as leafy greens, containing vitamin A, C, E and K is gaining traction among athletes and young population which is in turn garnering the global superfoods market. Meanwhile, dark chocolate prevents coronary heart disease, cancer, and bolsters antioxidant activity in the body. In this regard, the increasing popularity of dark chocolate among women is adding to the market growth. Moreover, superfoods such as spirulina, blue-green algae, garlic, and turmeric, among others are gaining traction in households.
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Over the forecast period, the anticipated increase in awareness pertaining to the health benefits of superfoods is likely to boost the demand for the products.
In terms of regions, North America accounts for a significant share in the superfoods market. The increasing prevalence of obesity among the youth is leading to a heightened health awareness which is in turn bolstering the demand for superfoods which can facilitate weight loss. The thriving food and beverage industry across developed economies such as the United States is further aiding the market growth.
Superfoods Industry Definition and Major Segments
Superfoods are defined as the type of food products with minimum calories and maximum nutritional value. The number of vitamins, minerals, and antioxidants present in these food products are high. Soy, tea, berry, salmon, and grapes, among others, are some of the typical examples of products in the superfoods market.
Based on type, the market can be segmented into:
- Grains and Seeds
- Herbs and Roots
- Meat, Fish, and Poultry
The market can be broadly categorised based on distribution channel into:
- Convenience Stores
- Traditional Grocery Stores
- Online Channels
By application, the market has been segmented into:
- Snacks and Savoury
- Bakery and Confectionery
On the basis of region, the market can be categorised into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Superfoods Market Trends
The key trends in the global superfoods market include the rapid development of supermarkets/hypermarkets and convenience stores which is propelling the sale of fresh fruits, vegetables, and poultry products, among others. The rising working-class population across the emerging economies is leading to a heightened demand for highly nutritious food products. The rising disposable income, rapid urbanisation, and increasing population are further leading to an increase in footfalls at grocery stores.
Meanwhile, the thriving e-commerce industry is another crucial trend in the market which is bolstering the sale of clean labelled superfood products.. For instance, Amazon, a leading e-commerce giant, offers fresh superfood products such as olive greens, dry fruits, blueberries, active greens, and canned fruits, among others. Therefore, these e-commerce websites are fostering the growth of superfoods market. Additionally, superfood suppliers apply attractive packaging techniques which further garner the popularity of superfoods such as packaged salmon, bakery, and meat, etc.
The increasing prevalence of lifestyle diseases such as diabetes mellitus, Alzheimer’s, and uncontrolled blood pressure, are likely to diffuse awareness about superfoods which treat these disorders. For instance, wine and grapes are useful for the treatment of diabetes and Alzheimer’s.
Key Market Players
The major players in the superfoods market report are Sunfood Corporation, Suncore Foods Inc., ADUNA Ltd., Superlife Co. Pte Ltd, Archer Daniels Midland Company, OMG! Organic Meets Good, and Del Monte Foods, Inc, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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